Micro News

China Fortune Land Development has signed a contract with the Egyptian government to build a new city on Suez Canal. Under the contract, the Developer will build residential and corporate houses, and other relevant infrastructure projects. The total venture cost is estimated at about US$20Bn.


UK banks have started buying bitcoins to pay hackers for their e-services in case of cyber-attacks, the Guardian reports. Just recently, the website PayPal was destabilised with a similar hack. I remember working at Shell, and being told about Nigeria. Procurement ships always had  a “modest” US$20,000…


The EU enters the world arms race

A €4Bn fund has been created to finance military research. The financial burden will be borne by the European Union,  which has already started receiving signatures against it from several member states. The point is that the EU military expenses will need to employ cost cutting projects in other spheres.…


Russian tourists have also contributed to the improvement of tourism in Cyprus. Over 9 months in 2016, the influx of Russian tourists to Cyprus was up by 52% or 155,000 people from the same period a year earlier. The total number of Russian visitors in Cyprus within this period exceeded 400,000, while…


Compared to the financial state of the Greek side of Cyprus, which is widely known to have an external debt totaling €17.6Bn, the situation around finance on the Turkish side of the island is kept in the greatest secrecy by the government of the self-declared Turkish Republic of Northern Cyprus. The…


Cyprus Ministers are often in Moscow

The Cyprus Minister of Education and Culture arrived in Russia to discuss the mutual recognition of higher and secondary education. The Ministry of Foreign Affairs will also visit Moscow. During the official visit, he intends to discuss Cyprus issues as well as Russian-EU relations. Cyprus will undertake…


The US presidential race final straight

This morning I was watching the Presidential debate on TV. Nothing new for me, but I was bewildered by something quite different. The candidates are about 70 years old! The pace and tension of the debate is insane. How do they manage to stand it? Many young people under 30 whom I know, break from even…


The banks were thereby sentenced for being involved in the scandal with 1Malaysia Development Berhad - the funds illegally transferred from this government development company had been found on their accounts. As a reminder, several Malaysian high-ranking officials are suspected to have plundered US$4Bn…



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